Sources reveal that this move aims to provide relief to the middle class and stimulate consumption in response to the country’s slowing economy. 

Explainer : India considers income tax cuts, all you need to know

Finance Minister Piyush Goyal on Friday proposed that salaried individuals with an annual income up to 5 lakh will be exempted from paying any tax. Goyal made the populist announcement while presenting the Interim Budget in the parliament.

Budget 2019: Interim Budget delights farmers; middle class wooed with tax rebates

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Explainer : India considers income tax cuts, all you need to know

Budget 2019: Interim Budget delights farmers; middle class wooed with tax rebates